Monogram Residential Trust Inc (NYSE:MORE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Monogram Residential Trust, Inc. is a self-managed real estate investment trust. It invests in, develops and operates multifamily communities offering location and lifestyle amenities. The Company invests in stabilized operating properties and properties in various phases of development, with a focus on communities located in the top 50 Metropolitan Statistical Areas of the United States. Monogram Residential Trust, Inc. is based in Addison, Texas. “

Several other research firms have also issued reports on MORE. Canaccord Genuity set a $11.00 price target on shares of Monogram Residential Trust and gave the stock a “hold” rating in a research report on Thursday, March 2nd. BMO Capital Markets reissued a “buy” rating and issued a $11.50 price target on shares of Monogram Residential Trust in a research report on Sunday, March 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Monogram Residential Trust presently has an average rating of “Buy” and an average target price of $11.61.

Analyst Recommendations for Monogram Residential Trust (NYSE:MORE)

Shares of Monogram Residential Trust (NYSE:MORE) opened at 9.74 on Thursday. The company has a 50-day moving average price of $10.07 and a 200 day moving average price of $10.30. Monogram Residential Trust has a one year low of $9.52 and a one year high of $10.97. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.39 and a beta of 0.74.

Monogram Residential Trust (NYSE:MORE) last released its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Monogram Residential Trust had a negative net margin of 7.05% and a negative return on equity of 1.20%. The company had revenue of $73.34 million during the quarter, compared to the consensus estimate of $50.96 million. On average, analysts forecast that Monogram Residential Trust will post ($0.10) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of MORE. Vanguard Group Inc. raised its position in Monogram Residential Trust by 2.5% in the first quarter. Vanguard Group Inc. now owns 25,609,838 shares of the real estate investment trust’s stock valued at $255,330,000 after buying an additional 617,417 shares during the period. BlackRock Inc. raised its position in Monogram Residential Trust by 5,557.5% in the first quarter. BlackRock Inc. now owns 14,641,807 shares of the real estate investment trust’s stock valued at $145,980,000 after buying an additional 14,383,005 shares during the period. State Street Corp raised its position in Monogram Residential Trust by 0.7% in the fourth quarter. State Street Corp now owns 5,395,069 shares of the real estate investment trust’s stock valued at $58,372,000 after buying an additional 37,386 shares during the period. BlackRock Fund Advisors raised its position in Monogram Residential Trust by 8.3% in the third quarter. BlackRock Fund Advisors now owns 4,715,908 shares of the real estate investment trust’s stock valued at $50,177,000 after buying an additional 361,198 shares during the period. Finally, Teachers Advisors LLC raised its position in Monogram Residential Trust by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 2,871,756 shares of the real estate investment trust’s stock valued at $31,072,000 after buying an additional 11,968 shares during the period. 69.94% of the stock is owned by hedge funds and other institutional investors.

Monogram Residential Trust Company Profile

Monogram Residential Trust, Inc is a self-managed real estate investment trust (REIT). The Company invests in, develops and operates multifamily communities offering location and lifestyle amenities. The Company also invests in stabilized operating communities and communities in various phases of development, with a focus on communities in select markets across the United States.

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